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July 25, 2013
NFA sanctions James E. Green, principal of FX Direct Dealer LLC (FXDD), with fine of $75,000
July 25, Chicago - National Futures Association (NFA) has issued a $75,000 fine against James E. Green, chief compliance officer (CCO), a listed principal and an associated person of FX Direct Dealer LLC (FXDD). FXDD is a futures commission merchant, forex dealer member and retail foreign exchange dealer Member of NFA located in New York City. The Decision, issued by an NFA Hearing Panel, is based on the Complaints filed on June 29, 2012 and October 23, 2012, and a settlement offer submitted by Green.
The Panel found that Green, acting as the firm's CCO and anti-money laundering (AML) Compliance Officer, failed to supervise FXDD's operations including FXDD's AML program.
In addition to the $75,000 fine, Green agreed to not be employed or act as an AML Compliance Officer for any NFA Member or in a compliance capacity, unless he reports to or is supervised by another person within the Member's compliance department, for a period of one year.
Green neither admitted nor denied the allegations.